Which? responds to Tesco Bank closing its current accounts

Gareth Shaw, Head of Money at Which?, said:

“Tesco Bank customers can easily and safely move to a new bank using the Current Account Switching Service. It should take just seven days to switch and your money, standing orders and direct debits will be transferred across automatically.

“When choosing a new current account, consider whether it comes with extra benefits, such as packaged insurance, and what charges you’ll face if you plan on using an overdraft. If you need to use a branch to do your banking, take into account if there is a local one nearby.”